When a couple divorce or separate it is a painful, sad and often bitter time which doesn’t just take its toll on a couples’ emotions it can also take a considerable toll on their finances.
The cost of an uncontested divorce including Court fees is around £1,000.00. However, when couples begin to make arrangements regarding their children and move towards reaching an agreement regarding a fair division of their assets and finances, this is where costs can escalate significantly. Solicitor’s fees, Court fees, Barrister’s fees and the other costs involved in reaching such an agreement can begin to mount up for each party to the divorce or separation and run into thousands of pounds, sometimes without there being a formal agreement reached. It can often take years to reach an agreement and each party can end up losing a significant amount of any monies they receive in their settlement in legal expenses.
Recently a new and innovative way of approaching the minefield of divorce and separation has been introduced and is being seen as a fresh, cost effective and time saving way of reaching fair and equitable, yet binding, agreements when parties divorce or separate. It is called Arbitration and has been around for years in other areas of the law but is now being seen as the way forward in respect of divorce and family law.
The aim from April this year is for the Courts to encourage couples to resolve matters away from the Courts by mediation, collaboration and arbitration. It is hoped that it will save couples time, stress and money and alleviate the pressure on the already overburdened Court system. The Court process can be very daunting, complicated and expensive and it can often increase conflict and confrontation which only serves to add to the already stressful process of divorce or separation.
Family Arbitration provides a real alternative for those considering divorce or separation. Family Arbitration will allow couples to resolve their differences through a qualified Arbitrator, who will consider all the information available from each of the parties and reach a fair and equitable decision which is then embodied in a Court Order and sealed by the Court. It is as legal and binding as any Court Order but it will have been reached in a fraction of the time and at a fraction of the cost and it is hoped with far less stress than the traditional approach.
For more information regarding Family Arbitration contact Marcus Hall Arbitration Services for a free information pack. On 01522 753630 or call in to our offices at 22 The Green, Nettleham, Lincoln, LN2 2NR for a no obligation, informal chat about Family Arbitration.